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11th Chapter

12th Principles of Banking Chapter 11 Test

Here you can prepare 12th Class Principles of Banking Chapter 11 Non-Negotiable Instruments Test. Click the button for 100% free full practice test.

12th class Principle of Banking chapter 11 online mcq test with answers for ICom part 2 Principle of Banking Chapter 11 (Non-Negotiable Instruments)

This online test contains MCQs about following topics:

. Banker's letters of credit . Money order . Postal order . I owe you(I.O.U) . Stock certificate

ICOM Part 2 Banking Ch 11 Test
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12th class Principle of Banking chapter 11 online mcq test with answers for ICom part 2 Principle of Banking Chapter 11 (Non-Negotiable Instruments)

Sr. # Questions Answers Choice
1 Which of the following gets facility due to commercial letter of credit:
  • A. Home traders
  • B. Exporter
  • C. Importer
  • D. Both exporter and importer
2 Which of the following can be cancelled by the issuing bank without the consent of the other parties
  • A. Revocable letter of credit
  • B. Irrevocable letter of credit
  • C. Revolving letter of credit
  • D. Unconditional letter of credit
3 Where are the stock certificates sold and bought
  • A. At commercial bank
  • B. At central bank
  • C. At post office
  • D. At stock exchange
4 Which type of letter of credit authorized the exporter to obtain an advance before the shipment of goods
  • A. Documentary letter of credit
  • B. Green-clause letter of credit
  • C. Confirmed letter of credit
  • D. Red-clause letter of credit
5 The letter of credit which can be endorsed to another person is called:
  • A. Special L.C
  • B. Transferable L.C
  • C. Resolving L.C
  • D. None of the above
6 Which of the following is a non-commercial letter of credit
  • A. Irrevocable letter of credit
  • B. Red-clause letter of credit
  • C. Special letter of credit
  • D. Traveller's letter of credit
7 Which of the following parties of a letter of credit is called beneficiary
  • A. Importer
  • B. Exporter
  • C. Opening bank
  • D. Advising bank
8 Which of the following is used to finance the people who want to travel abroad
  • A. Traveller's letter of credit
  • B. Traveller's cheque
  • C. Circular note
  • D. All the above
9 What is recieved by the post office on money order:
  • A. Profit
  • B. Interest
  • C. Commision
  • D. All of the above
10 Which of the following is an order of payment by one post office for another post office
  • A. Postal order
  • B. Money order
  • C. Both a and b
  • D. None of these

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